World Business Briefing | Americas: Canada: Merger Of Breweries Opposed

R. Ian Molson, the former deputy chairman of Molson, formally announced his opposition to the proposed combination of Molson and the Adolph Coors Company, saying Molson could perform better as an independent. Mr. Molson also said he was disappointed that he was unable to submit a rival bid for the company. "I have evaluated the Molson-Coors proposal carefully and have concluded that this is a bad transaction for Molson shareholders," Mr. Molson said in a statement issued by his London office. His comments came eight days before shareholders of both companies will decide whether to approve the merger. Representatives of Molson, which is based in Montreal, and of Coors, based in Golden, Colo., did not return telephone messages seeking comment.